Exempt Company2018-07-30T16:30:16+00:00
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Exempted Company

Where the proposed activities of a company are to be carried out mainly outside of the Cayman Islands – offshore – the registrants can apply for registration as an exempted company.

Types of Exempted Companies
Special Features
  • Is not required to keep a register of members open for public inspection (a requirement for resident and non-resident companies).

  • Is not required to hold an annual general meeting in the islands (which resident and non-resident companies must).

  • May alter its Memorandum and Articles of Association without restriction, but must notify the Registrar of any changes.

  • May issue shares with nominal or no par value.

  • May express its capital in any currency or in multiple currencies.

  • The annual return to the Registrar requires a declaration that:

    • no changes, other than those notified to the Registrar, have been made in the Memorandum of Association;
    • the provisions of the Companies Law have been observed
    • the company’s operations have been mainly outside the Cayman Islands;
  • The Registrar must give one month’s notice before taking action to strike off an exempted company.

  • Is not required to include the word “Limited” or the abbreviation “Ltd.” after its name.

  • The Registrar must give one month’s notice before taking action to strike off an exempted company.

To register, the name of the company must be acceptable to the Registrar under the provisions of section 30 of the Companies Law. The company must file with the Registrar a declaration that the operations of the registrant will be conducted mainly outside the Cayman Islands.

The most convenient way to incorporate this type of company in the Cayman Islands is to engage one of the professional firms licensed for this purpose. These firms can provide such services as: registered office; nominee shareholders; directors and other officers; and management of the company on the instruction of the beneficial owner(s)